State-owned shipping company Kerch Ferry is to be privatized, the State Property Fund (SPF) said in a statement on Wednesday.
According to the statement, the residual value of the company’s main assets as of the middle of 2010 was Hr 7.72 million, while the initial value was Hr 31.57 million.
The SPF told Interfax-Ukraine that the decree on the company’s privatization was approved on Oct. 6, 2010.
Currently Kerch Ferry is subordinated to the Transport Ministry.
Kerch Ferry has been steadily increasing its income and profit for the last four years. In 2009, the company saw its net income rise by 16.9%, to Hr 39.6 million, and its net profit grew by 10.4%, to Hr 6.07 million. In the first half of 2010, the company saw a net income of Hr 17.12 million, and its net profit was Hr 1.14 million.
According to information on the company’s website, its fleet consists of two ships, the Kerchensky-1 and Kerchensky-2, and the Yeisk car ferry.
